Sugar Price Fall Impacts Südzucker's Half Year Results
The continued low commodity price of sugar has impacted half year results at Südzucker AG, saw operating profits in its sugar segment fall to €3 million for the period, compared to €111 million a year earlier.
In the second quarter alone, the group actually posted a loss of €6 million in its sugar segment, compared to a profit of €47 million the previous year.
The group said that lower sugar sales revenues caused 'sharply reduced' results in its sugar segment, which saw its revenues fall to €1.39 billion (2017: €1.52 billion), despite substantially higher sales volumes in exports and in the EU, driven by significantly lower sales revenues.
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